Many Canadian families are receiving their first UCCB payments this week, as the federal government issues the retroactive tax benefit. It may seem like a handy cash infusion for childcare and other expenses – but it could up your bill come tax time. Here’s what you need to know.
There’s no way around it – kids are expensive! It costs an average of $242,000 to raise that bundle of joy to the age of 18. For new parents, though, the first year of costs can be an especially terrifying challenge.
Finding good childcare is a huge conundrum facing Canadian parents. Arm-length waiting lists and thousands of dollars in monthly fees can greatly limit the options for many families, especially those who rely on subsidized care. What’s a busy working parent to do?